The state Bond Commission is poised to authorize tens of millions in borrowing Friday to help fund multifamily developments throughout the state. Housing development is a big chunk of the $423.1 million borrowing package going before the bond commission on Friday. The agenda includes $50 million for the state Department of Housing’s Build for CT program, which helps developers finance affordable and middle-income rental housing projects. The state Department of Housing is up for another $20 million, which will pass to the Connecticut Housing Finance Authority to fund construction or rehabilitation of 186 housing units. The Bond Commission will vote on a proposed $6.5 million for CRDA, which the quasi-public agency would lend to Simon Konover to help the company finance an approximately 150-unit apartment complex in East Hartford. The development would be located on a 35-acre site at 341 East River Drive, near the Connecticut River.
https://www.hartfordbusiness.com/article/state-poised-to-borrow-tens-of-millions-to-incentivize-multifamily-development